(National Bureau of Statistics of China) China’s consumer price index rose at an annual basis of 1.0% in July from June, while the producer price index jumped by 9.0%.
The uptick in CPI and PPI was more than expected, 0.8% and 8.8%, respectively.
The more than expected rise in factory gate prices added pressures to businesses already struggling with high costs of raw materials.
The rising price pressures in China happens at a time the delta variant is threatening its economic outlook in the third quarter, with analysts led by Goldman Sachs downgrading growth forecasts.
CSI 300 is up +1.30%, USDCNY is down -0.10%.
